Before you start choosing from the many Tezos wallets in the market, it’s better to first understand how the Tezos blockchain works—the problems it aims to solve and the solutions it provides.
The Tezos network was established to solve some of the problems that the blockchain technology faced while operating on the Ethereum network. As such, it borrows heavily from the Ethereum blockchain but brings on board specific distinguishing features.
The Tezos blockchain embraces the “community consensus” protocol that empowers the holders to make decisions through voting without interrupting the functions of the network. Besides, Tezos upholds an“on-chain governance” mechanism, which enables its team to make democratic decisions and amendments. The focal point of the on-chain governance is on the protocol changes within the network. Using this mechanism, holders can propose amendments in protocols. A voting process by Tezos holders follows the proposal. Should the holders accept the proposal, it proceeds for implementation on the system. In return, the developers receive compensation for the acceptance of their suggestion.
Since its launch, Tezos has overcome the challenges of the crypto space and is now poised for a better product development after the launch of its main net in September 2018. This means that the Tezos tokens (XTZ) are now tradable on various exchanges.
With that in mind, this guide presents an exhaustive list of Tezos best wallets, which you can consider to store your XTZ tokens safely.
Ledger Nano S
Ledger Nano S Wallet website:https://shop.ledger.com/products/ledger-nano-s
Ledger Nano S Wallet type: Hardware
Ease of use: easy to use
Safe: highly safe
If you’re planning to store multiple currencies in a safe and secure environment, the Ledger Nano S wallet is the ideal one. This wallet holds more than 700 digital assets, XTZ inclusive, and it’s the most secure crypto hardware wallet out there.
The product comes in a USB-like design, which makes it easy to access on your desktop wallet through the Ledger Live technology. By using Ledger Live, you can easily install the Tezos app on your device and connect it to a third-party GUI interface to manage your Tezos funds. An example of a third-party GUI interface is TezBox. With Nano S wallet and TezBox, you can bet your XTZ funds are safe and can delegate the funds through the wallet. Since it’s a paid wallet, you need to confirm the price on their official website before you buy. Remember to always purchase reliable, genuine products.
While purchasing the Nano S product, remember to install the latest firmware on your device. This avoids any unauthorized infiltration that might compromise the safety of your funds. With the slim design, intuitive user interface, and easy operation, the Tezos-supported Ledger Nano S wallet is definitely one of Tezos’ best wallets.
Source: chrome.google.com (app)
Tezbox Wallet | Tezos Wallets
Tezbox Wallet website: https://texbox.com/
Tezbox Wallet type: Mobile/Desktop
Ease of use: Yes
TezBox is one of the oldest Tezos GUI wallets designed by the Tezos community. It serves both as a mobile and desktop wallet, and it supports Mac and Windows operating systems.
TezBox is designed taking into account security and has an intuitive interface to ensure that your XTZ funds remain safe at all times. It does not harvest your data, as your private key remains safe in your device. As an additional layer of security, the wallet integrates with hardware wallets like Ledger Nano S and Trezor. In fact, it becomes the first wallet to perform that kind of integration. It’s also easy to integrate your dApps through TezBox as it has a friendly user interface.
Key features of TezBox Wallet include:
- On-Chain governance: On-chain governance is a key component of the Tezos protocol. This provides a formal process by which stakeholders can efficiently govern the platform and implement fresh innovations.
- Security: The Tezos blockchain aims to facilitate formal verification that helps secure smart contracts to avoid any bug in the system.
- Proof-of-Stake: Tezos embraces the PoS consensus algorithm, which allows developers to take part in the validation of transactions on the Tezos blockchain. In the end, they receive compensation from the protocol for doing so.
CorTEZ Wallet | Tezos Wallets
CorTEZ Wallet website: https://gitlab.com/tezos/cortez-android
CorTEZ Wallet type: Mobile
Ease of use: Yes
Developed by the Tezos community, CorTEZ Wallet is for Android users. The Android wallet is a product of the Nomadic Labs in Paris and aims to enhance security and instill the best user experience via an Android operating system.
The CorTEZ wallet is purely an open source cryptocurrency wallet and provides users with a 24-word mnemonic phrase at the time of initialization. Remember to keep the mnemonic safe and secret to avoid any unauthorized access because it gives direct access to your Tezos funds.
To improve the security of your funds, your CorTEZ wallet should have a master password, which you set when you receive the wallet for the first time. Once your wallet is up and running, you can use the master password to protect your private keys. For instance, to send XTZ funds to a given address, you must enter the password. Alternatively, you can use the fingerprint option.
Top features of CorTEZ Wallet include:
· You are able to create and restore a Tezos wallet.
· You can monitor public key hashes in a simple address book.
· You can receive or send Tezos.
· You can revisit your operations history.
With these features, the wallet qualifies as one of Tezos’ best wallets to consider.
Tezos.Blue Wallet | Tezos Wallets
Tezos.Blue Wallet website: https://tezos.blue/
Tezos.Blue Wallet type: Mobile
Ease of use: Yes
Tezos.blue is a custody-free wallet designed for Android devices. You can consider this if you are looking for the best mobile cryptocurrency wallet. With it, you can safeguard your Tezos tokens without any hassle. The superfast light wallet enables you to keep your tokens anonymously and securely on the Tezos blockchain.
Currently, the mobile crypto wallet is available for download on Google Play for Android users, and the App Store for iOS users. You can also get it from Microsoft. Tezos.blue allows you to create an account efficiently and, upon activation, you can delegate, send, receive, or store your Tezos funds with confidence.
Top features of the Tezos.blue wallet:
· Multi-level encryption of keys in memory and on-device storage
· Real-time, two-way connection into the Tezos blockchain
· Completely open source
· Minimal usage of resources and optimized data traffic
Getting started with Tezos.blue wallet is easy, as you no longer have to go through a KYC check or use your e-mail to log in. Instead, the wallet is downloadable right away, and you can start using it. On matters of security, you don’t need to worry so much because you’re the sole custodian of your wallet. This is made possible by the multi-level encryption of your keys both on the device and in memory.
Atomic Wallet website: https://atomicwallet.io/tezos
Atomic Wallet type: Desktop
Ease of use: Yes
The Atomic Wallet is a relatively new multicurrency solution which you can utilize to store your Tezos funds. This desktop multi cryptocurrency wallet supports more than 300 digital coins and tokens. Besides, the platform updates weekly to add more assets and features. The Atomic wallet desktop app supports various operating systems, including Windows, MacOS, Ubuntu, Fedora, and Debian. The mobile app, on the other hand, supports both Android and iOS devices.
Top benefits of the Atomic wallet:
· Your private keys remain on your device, and you can generate them from mnemonic
· You have a built-in Buy Crypto with credit card option
· Weekly updates with new coins, tokens, and useful features
· Atomic Swaps for exchange with reduced fees
· Instant, round-the-clock customer support
· Custom token feature—you’re able to add any ERC20 token in seconds
· ShapeShift and Changelly integration for instant exchange
These features make the Atomic Wallet one of the best if not the best crypto desktop wallet for sending, receiving, and storing your Tezos funds. For example, with the Changelly and ShapeShift integration, you’re able to exchange your Tezos to other cryptocurrencies instantly and on the same platform.
Tezzer Wallet website: https://github.com/Tezzerwallet/tezzer-v1.0.4
Tezzer Wallet type: Official Desktop for Tezos
Ease of use: Yes
Tezzer was released in July 2018 and is the official cryptocurrency desktop wallet for the Tezos blockchain. The light desktop cryptocurrency wallet enables you to store and manage your Tezos funds without having to run a full node or download the entire blockchain.
Initially developed solely by the Tezos community, Tezzer was later reviewed by the Tezos Foundation to strengthen trust regarding the product and to free it from any error that might compromise its usage. The wallet is a Windows-only device that allows you to remain in control of your Tezos funds. It comes with seed words to secure your XTZ tokens.
Essentially, the Tezzer wallet was subjected to two external reviews focusing on security audit and threat modeling. This led to high security for users, as any bug or threat detected during the reviews was either eliminated or dispatched to its rightful location after investigations.
While being a Windows-only product could be a drawback to some users, it’s one of Tezos’ best wallets in terms of security and safety of funds.
The Tezos blockchain is a growing community with a wide range of objectives, such as reducing cost, saving time, and facilitating transactions. The project of a young couple generated up to US$232 million during its initial offering in 2017. As more people adopt the Tezos blockchain, there is a need for securing the funds as well as storing them safely. Taking into account our list of best Tezos wallets, you can rest assured as your funds are safe.